Certain relief to farmers after demonetization

Reportedly, the government has now allowed farmers to use old Rs. 500 notes for purchasing seeds from any state or central government outlets and agriculture universities.

After a sudden move of demonetization of Rs. 500 and Rs. 1000, the government came under a severe pressure by the public and the day to day chaos that the government has to give some liberty to farmers. It also shows the complete failure of this scrapping of cash.

Now, the farmers are provided liberty to some extent that they can purchase seeds from the centres, units or outlets belonging to the central or state governments, public sector undertakings, national or state seeds corporations, central or state agricultural universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity, the finance ministry said in a statement.

Additionally, the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs.25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced last week.

Apart from this, the government has also extended the deadline for payment of crop insurance premium by 15 days and permitted APMC-registered traders to withdraw up to Rs.50,000 per week.

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